Diamond market dip spurs seismic political shift in Botswana as voters punish ‘aloof’ long-time leaders

Duma Boko, a Harvard-educated human rights lawyer, was sworn in as president Friday after his Umbrella for Democratic Change secured an outright majority in the 61-seat legislature. He succeeds Mokgweetsi Masisi, whose Botswana Democratic Party (BDP) was widely expected to retain its majority, yet finished in fourth place.

Voters punished the BDP for an economic downturn triggered by a collapse in the diamond market, which generates the bulk of government revenue and export earnings. Public anger over a 28% unemployment rate has been compounded by rising levels of crime and corruption.

“I will respectfully step aside,” Masisi told a briefing in the capital, Gaborone, that was broadcast on state television. “I wish to congratulate the opposition. I respect the will of the people.”

While Botswana has long been held up as one of Africa’s most successful democracies, disaffection with the system has surged, an Afrobarometer survey published in July shows. Just 30% of respondents in the country expressed satisfaction with democracy, down from 70% a decade ago – which was among the sharpest drops on the continent.

Similar patterns have emerged elsewhere in the region, including neighbouring South Africa, where the ANC in May lost the parliamentary majority it’s held since the end of apartheid three decades ago. In Mozambique, the party that has ruled for the past 49 years extended its tenure in the 9 October elections that observers and opposition parties said were marred by irregularities.

The BDP’s implosion stunned its leadership, with outgoing Vice-President Slumber Tsogwane saying he had no clue why it performed so badly. The party won just four parliamentary seats, down from 38 five years ago.

Read more: Botswana’s ruling party loses election, ending 58-year rule

The UDC secured 36 seats, the Botswana Congress Party 15 and the Botswana Patriotic Front five, while one went to an independent candidate, final results released by the electoral commission on Saturday show.

Moeti Mohwasa, Boko’s spokesman, said the country’s outgoing leaders held themselves aloof from the people they were meant to serve, weren’t accountable and failed to ensure resources were equitably distributed.

Boko (54), who has run for the presidency twice before, has pledged to create at least 400,000 jobs within five years, boost the minimum wage, clamp down on corruption and cut water and electricity tariffs. Those undertakings clearly resonated with the electorate even though they may be hard to fulfil.

The free elections reflected the voice of Botswana’s people, said US Secretary of State Antony Blinken, who congratulated Boko and his coalition on their victory and commended Masisi for his commitment to a peaceful transfer of power.



Botswana is the world’s largest producer of rough diamonds by value, with almost all of its gems mined by Debswana — which is jointly owned by the government and De Beers, a unit of Anglo American. Global diamond sales have been affected by oversupply, poor demand from the crucial Chinese market and pressures from lab-grown gems.

Masisi’s administration negotiated a new 10-year accord in 2023 with De Beers that will give the nation access to more diamonds and help it secure 10 billion pula ($751-million, about R13-billion) in development funding.

Boko criticised the way the deal was negotiated and said it had adversely affected the country’s relationship with De Beers, which was now considering walking away from it. The new administration will engage with the company to understand its concerns.

“‘We have to safeguard the goose that lays the golden egg and have some revenue generation while we pursue diversification” of the economy, he told reporters on Friday.

Read more: Botswana GDP Shrinks Most Since 2020 as Diamond Output Plunges

In a July interview, Boko said he wanted Botswana’s government to increase its stake in De Beers to 51%, from 15% currently, and called for the company to relocate its headquarters from London to Gaborone.

Anglo American paid $5.1-billion for the Oppenheimer family’s 40% stake in De Beers in 2011.

In February, Anglo American wrote down the value of its 85% share in the diamond producer by $1.6-billion to about $7-billion, and in May it put the unit up for sale after fending off a $49-billion takeover bid for the group from BHP Group.

“It is an opportunity for the government of Botswana, in our view, to acquire a substantial controlling stake in De Beers,” Boko said in the interview. “When it’s in some crisis, it’s normally the best time to acquire.” Bloomberg/DM

(Writer: Mbongeni Mguni)